Institutional economics
Institutional economics focuses on understanding the role of the evolutionary process and the role of institutions in shaping economic behaviour. Its original focus lay in Thorstein Veblen's instinct-...
Thorstein Veblen
Thorstein Bunde Veblen (born Torsten Bunde Veblen; July 30, 1857 – August 3, 1929) was an American economist and sociologist, and leader of the institutional economics movement. Veblen is credite...
The Theory of the Leisure Class
The Theory of the Leisure Class: An Economic Study of Institutions (1899), by Thorstein Veblen, is a treatise on economics and a detailed, social critique of conspicuous consumption, as a function of ...
The Theory of the Leisure Class - Wikipedia
John R. Commons
John Rogers Commons (/ˈkɑːmənz/; 1862–1945) was an American institutional economist, progressive and labor historian at the University of Wisconsin–Madison.
John R. Commons was born in Hollansburg...
John R. Commons - Wikipedia
Wesley Mitchell
Wesley Clair Mitchell (August 5, 1874 – October 29, 1948) was an American economist known for his empirical work on business cycles and for guiding the National Bureau of Economic Research in its firs...
Clarence Edwin Ayres
Clarence Edwin Ayres (May 6, 1891 – July 24, 1972) was the principal thinker in the Texas school of Institutional Economics, during the middle of the 20th century.
Ayres was born in Lowell, Massac...
Adolf Berle
Adolf Augustus Berle, Jr. (/ˈbɜrli/; January 27, 1895 – February 17, 1971) was a lawyer, educator, author, and U.S. diplomat. He was the author of The Modern Corporation and Private Property, a ground...
Adolf Berle - Wikipedia
John Kenneth Galbraith
John Kenneth "Ken" Galbraith, OC (/ɡælˈbreɪθ/ gal-BRAYTH, October 15, 1908 – April 29, 2006) was a Canadian and, later, American economist, public official, and diplomat, and a leading proponent ...
John Kenneth Galbraith - Wikipedia
New Institutional Economics
New institutional economics (NIE) is an economic perspective that attempts to extend economics by focusing on the social and legal norms and rules (which are institutions) that underlie economic activ...
New institutional economics
New institutional economics (NIE) is an economic perspective that attempts to extend economics by focusing on the social and legal norms and rules (which are institutions) that underlie economic activ...
Robert A. Brady (economist)
Robert Alexander Brady (1901 – 1963) was an American economist who analyzed the dynamics of technological change and the structure of business enterprise. Brady developed a potent analysis of fascis...
Wesley Clair Mitchell
Wesley Clair Mitchell (August 5, 1874 – October 29, 1948) was an American economist known for his empirical work on business cycles and for guiding the National Bureau of Economic Research in its firs...
Transaction cost
In economics and related disciplines, a transaction cost is a cost incurred in making an economic exchange (restated: the cost of participating in a market).Transaction costs can be divided into three...
Transaction cost - Wikipedia
János Kornai
János Kornai, until 1945 János Kornhauser (born January 21, 1928), is an economist noted for his analysis and criticism of the command economies of Eastern European communist states.
Kornai studie...
Jonathan Nitzan
Jonathan Nitzan is Professor of Political Economy at York University, Toronto, Canada. He is the co-author (with Shimshon Bichler) of Capital As Power: A Study of Order and Creorder, published 2009. T...
Douglass North
Douglass Cecil North (born November 5, 1920) is an American economist known for his work in economic history. He is the co-recipient (with Robert William Fogel) of the 1993 Nobel Memorial Prize in Eco...
Conspicuous leisure
Conspicuous leisure is a term introduced by the American economist and sociologist Thorstein Veblen, in The Theory of the Leisure Class (1899). The term denotes visible leisure for the sake of displa...
Conspicuous leisure - Wikipedia
Werner Abelshauser
Werner Abelshauser (born 24 November 1944 in Wiesloch near Heidelberg) is a German economic historian.
Abelshauser studied economics at the University of Mannheim and graduated in 1970. He receive...
Gunnar Myrdal
Karl Gunnar Myrdal ([ˈmyːɖɑːl]; 6 December 1898 – 17 May 1987) was a Swedish Nobel laureate economist, sociologist, and politician. In 1974, he received the Nobel Memorial Prize in Economic Sciences w...
Gunnar Myrdal - Wikipedia
John Maurice Clark
John Maurice Clark (1884-1963) was an American economist whose work combined the rigor of traditional economic analysis with an "institutionalist" attitude. Clark was a pioneer in developing the theor...
Coase theorem
In law and economics, the Coase theorem (pronounced /ˈkoʊs/) describes the economic efficiency of an economic allocation or outcome in the presence of externalities. The theorem states that if trade i...
Coase theorem - Wikipedia
Hunter Lewis
Hunter Lewis (born October 1947) is the co-founder of Cambridge Associates LLC, a global investment firm, and author of books in the fields of economics and moral philosophy.
Lewis was born in Day...
Hunter Lewis - Wikipedia
Oliver E. Williamson
Oliver Eaton Williamson (born September 27, 1932) is an American economist, a professor at the University of California, Berkeley, and recipient of the 2009 Nobel Memorial Prize in Economic Sciences.<...
Oliver E. Williamson - Wikipedia
Shimshon Bichler
Shimshon Bichler is an educator who teaches political economy at colleges and universities in Israel. Along with Jonathan Nitzan, Bichler has created an engaging power theory of capitalism and theory ...
Williamson's model of managerial discretion
Oliver E. Williamson hypothesised (1964) that profit maximization would not be the objective of the managers of a joint stock organisation.This theory, like other managerial theories of the firm, assu...
Williamson's model of managerial discretion - Wikipedia
François Simiand
François Joseph Charles Simiand (18 April 1873 – 13 April 1935) was a French sociologist and economist best known as a participant in the Année Sociologique. As a member of the French Historical Scho...
François Simiand - Wikipedia
Edward Lawrence Wheelwright
Edward Lawrence (Ted) Wheelwright (1921–2007) was a notable Australian economist, radio host and anti-war activist who taught at the University of Sydney from 1952 until 1986. He has written on Austra...
Keeping up with the Joneses
"Keeping up with the Joneses" is an idiom in many parts of the English-speaking world referring to the comparison to one's neighbor as a benchmark for social class or the accumulation of material good...